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Infosys downgraded to Neutral from Buy at BofA/Merrill

INFYInfosys

$14.33

-0.15 (-1.04%)

08/09/16

08/09/16DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apache (APA) downgraded to Neutral from Buy at Citi with analyst Robert Morris citing limited upside to his slightly reduced price target of $53. 2. FireEye (FEYE) downgraded to In-Line from Outperform at Imperial Capital with analyst Michael Kim citing a weaker billings outlook following the company's second quarter results. 3. Infosys (INFY) downgraded to Hold from Buy at HSBC. 4. Waste Management (WM) downgraded to Equal Weight from Overweight at Barclays. 5. Patterson-UTI (PTEN) downgraded to Underperform from Neutral at Macquarie with analyst Walt Chancellor citing concerns about significant excess capacity persisting across the land drilling space. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Susquehanna analyst James Friedman said the firm's industry-level checks suggest that the improvements that Infosys had hoped for may not have taken shape in the quarter, echoing recent cautious comments made by management at a competitor conference and at the company's analyst day meeting. Amid the uneven checks and cautious commentary, Friedman cut his estimates to below consensus and lowered his price target on Infosys shares to $16 from $18 while keeping a Neutral rating on the stock.

11/11/16

11/11/16NO CHANGE

Infosys invests in TidalScale

Infosys has made an investment in TidalScale, a provider of Software-Defined Servers that deliver in-memory performance at any scale, are self-optimizing, use standard hardware, and are compatible with all applications and operating systems. The investment will be completed on or before November 24.